Identifying and characterising price leadership in British supermarkets
提出了一个可证伪的价格领导定义，并利用英国两大超市连锁的数据进行检验，发现两家企业均存在价格领导行为，但降价事件多于涨价，而涨价幅度更大，导致平均购物篮价格随时间上升。
Price leadership is a concept that lacks precision. We propose a deliberately narrow, falsifiable, definition then develop it, illustrate its feasibility and test it using the two leading British supermarket chains. We find both firms engaging in leading prices upward over a range of products, with the larger being initially more dominant but the smaller increasing leadership activity to take overall leadership over time. However, more price leadership events are price reductions than price increases, consistently led by the smaller firm. Nevertheless, the increases are of larger monetary amounts than the falls, so average basket price increases over time.